You need more space, however, the thought of selling your home and buying a new one isn’t exactly appealing to you right now. If you love your home, feel comfortable there or simply don’t want the added headaches that moving brings, a home addition can give you the square footage you need, without having to give your home up.
Not only can an addition give you extra space, but it also adds value to your home. Should you decide to sell your house down the road, you could potentially recoup more than 69 percent of what you spent on a midrange family room one-floor addition.
Before you start this major renovation project, slow down and follow a few simple planning steps. Even though the thought of the added space is exciting, don’t rush this project. You want your addition to perfectly complement your home, and that requires plenty of prep time. Take a look at some of the most common preparation and planning steps that homeowners take before starting the remodel.
While you obviously want to increase your home’s space, what are your specific reasons for choosing this type of home remodeling project?
Start with listing what the room will be used for — and not just what you’ll use it for right now. Some rooms pull double duty over time, meaning that you may need to transition the added area from one purpose into another later on down the road. A home office or guest room can transform into a child’s bedroom or vice versa.
Along with the purpose of the room, create specific goals that focus on your overall home vision. If you’re going through the major process of a home addition, then you should get everything you’re dreaming of. This means your addition should include a specific square footage requirement, meet your functional needs, and be designed to aesthetically fit in your home.
Survey the Land
If you don’t have an existing land survey, then you should have a professional map out your property.
Why do you need a land survey? The boundaries of your property, along with local codes and laws that dictate how close to those lines you can build, will affect your home addition plans.
For example, you might want to add on a large master suite. However, the property boundaries may not allow for the square footage the addition requires.
Set a Budget
Planning your budget may require some help from a professional contractor. Many homeowners have no idea what a home addition really costs. The national average addition price tag is slightly over $42,000. However, your addition could cost far less, or much more than that average.
Discuss your goals with the contractor to get a better picture of what a realistic budget is. If the building costs are more than you had anticipated on, then you may need to cut back on some of the décor options or upgrades, at least for now. You can always make interior décor changes or add extra finishing touches later on.
Keep in mind, many home improvement projects don’t always go as planned. Create a contingency number, just in case unexpected costs creep up on you. Along with adding on to your budget for these potential extra expenditures, calculate how the addition will impact other costs. These include an increase in your property taxes, a change in your homeowners insurance premiums or added utility bills.